Michael M. Santiago/ Getty Images
What you need to know
- ServiceTitan’s shares soared after their trading debut at the Nasdaq on Thursday.
- The jump comes after the company's IPO priced higher than previously expected.
- In 2012, the provider of software for businesses in trade was established.
Investors’ appetite for the initial public offering of ServiceTitan surpassed all expectations during its first trading day.
Stock of the software provider for business trades rose 42% intraday to $100.87 on Thursday. The stock price jumped 42% to $100.87 intraday Thursday after the IPO of 8.8 millions shares sold at $71. This was higher than its original projections, which were $65-$67 each.
The IPO generated $625 million in revenue and valued the firm at $6.3 Billion. The company’s value would rise to $9 billion if the price of its stock reaches $101.
ServiceTitan was founded in 2012 by Vahe Kuzeyan (President and Co-Founder) to support their parents’ trade business. Approximately 8,000 customers are active with the company.
ServiceTitan posted a loss of $183 millions on revenues of 685 million dollars for the 12-month period ending July 31.
Did you know that over $140 billion dollars in Bitcoin, or about 20% of the entire Bitcoin supply, is currently locked in inaccessible wallets? Or maybe you have lost access to your Bitcoin wallet? Don’t let those funds remain out of reach! AI Seed Phrase Finder is here to help you regain access effortlessly. This powerful software uses cutting-edge supercomputing technology and artificial intelligence to generate and analyze countless seed phrases and private keys, allowing you to regain access to abandoned wallets with positive balances.
